Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Unregistered Sales of Equity Securities
None.
Use of Proceeds
On September 25, 2020, we completed our IPO. All shares sold were registered pursuant to a registration statement on
Form S-1 (File No. 333-248465), as amended (the “Registration Statement”), declared effective by the SEC on September
22, 2020.
As of March 31, 2026 , the $886.9 million net proceeds from our IPO have been fully utilized for the purposes described
in our Registration Statement: (i) $197.9 million for the acquisition of businesses that complement our business; (ii) $448.2
million for the repurchases of our Class A common stock; (iii) $160.0 million for the repayment of our outstanding debt
obligations; and (iv) $80.8 million for working capital and other general corporate purposes.
Issuer Repurchases of Equity Securities
The following table presents information with respect to our repurchases of our Class A common stock during the three
months ended March 31, 2026 .
Period
Total Number of
Shares Repurchased (1)
Average Price Paid
per Share (2)
Total Number of Shares
Repurchased as Part of
Publicly Announced
Program (1)
Approximate Dollar
Value of Shares that
May Yet Be
Repurchased
Under the Program
(in thousands)
January 1 - 31
—
$ —
—
$ —
February 1 - 28
—
$ —
—
$ —
March 1 - 31
5,535,548
$ 2.28
5,535,548
$ 60,218
Total
5,535,548
5,535,548
_____________________________________________________
(1) The repurchases are being executed from time to time, subject to general business and market conditions and
other investment opportunities, through open market purchases or privately negotiated transactions, which may
include repurchases through a trading plan intended to satisfy the affirmative defense conditions of Rule
10b5-1(c)(1) under the Exchange Act. See Note 9 to our condensed consolidated financial statements included
elsewhere in this Quarterly Report on Form 10-Q for additional information related to our $450.0 million stock
repurchase program with no expiration date, which was publicly announced on February 29, 2024.
(2) Average price paid per share includes direct costs and estimated excise taxes associated with the repurchases.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.